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Two Private Equity-backed Chinese Companies List in the United States (Asia)
Two China-based companies, online marketplace 58.com and travel website Qunar, have listed on the New York Stock Exchange (NYSE) and NASDAQ , respectively. 58.com, which is backed by global private equity firm Warburg Pincus, Asia-focused private equity firm SAIF Partners and early stage venture capital firm DCM, raised US$187 million in its initial public offering (IPO), and its shares closed… Read More
Goldman Sachs Exits IL&FS Transportation Networks (Asia)
The private equity arm of Goldman Sachs has exited its investment in India-listed IL&FS Transportation Networks, a subsidiary of IL&FS that develops and manages toll roads. Goldman Sachs, through GS Strategic Investments, sold a 1.3 percent stake, or around 2.6 million shares, on 31 October on the National Stock Exchange of India for a total of INR276 million (approximately US$… Read More
CNEI Completes US$25.4 Million Investment in Chinese Biopharmaceutical Company (Asia)
China New Enterprise Investment (CNEI), a China-focused growth capital fund manager, has invested US$25.4 million in China-based biopharmaceutical company Shanghai Fudan-Zhangjiang Bio-Pharmaceutical (FDZJ). CNEI completed the transaction in two steps, investing US$21 million earlier this year and an additional US$4.4 million in October. The firm acquired a 17 percent stake in the company from two state-owned enterprises, becoming FDZJ’s second… Read More
The Abraaj Group Sells Stake in Opalia Pharma (MENA)
Global growth markets investor The Abraaj Group has announced its full exit from Tunisia-based pharmaceutical company Opalia Pharma. The Abraaj Group, which originally invested in Opalia in 2009, sold its entire stake to Italy-listed Recordati, an international pharmaceutical company. In addition to The Abraaj Group’s stake, Recordati has agreed to acquire a total of 90 percent of Opalia Pharma. Financial… Read More
Affinity Seals a US$123 Million Dairy Joint Venture with Chinese SOE (Asia)
Asia-focused buyout fund manager Affinity Equity Partners has invested US$123 million in a dairy farming joint venture with Chinese state-owned enterprise (SOE) Beijing Capital Agribusiness Group, also known as Sunlon. Sunlon will spin-out its dairy farming operation into the joint venture, taking a 60 percent stake to Affinity’s 40 percent stake. The assets will comprise 32 farms with 46,000 cattle.… Read More
Bamboo Finance Exits Mongolia-based XacBank (Asia)
Global microfinance private equity investor Bamboo Finance has exited from its investment in TenGer Financial Group, the holding company of Mongolia-based banking institution XacBank, in a sale to a group of investors led by Japan-based leasing company ORIX Corporation. XacBank operates in all of Mongolia’s 21 provinces and the capital city through 97 retail and business branches. Bamboo Finance reportedly… Read More
AfricInvest Invests in Tunisia-based Maille Club (MENA)
AfricInvest Group, a private equity house focused on North and Sub-Saharan Africa, has invested in Tunisia-based textile manufacturer Maille Club. The company, which operates under the Mabrouk brand, was established in 1976 and designs, manufactures and markets textiles through a network of a dozen shops in Tunisia. Financial details of the transaction were not disclosed. Read More
Elbrus Capital Acquires Russian BPO Provider Intercomp (CEE and CIS)
Russia and CIS-focused private equity firm Elbrus Capital has acquired a 100 percent stake in Russia-based financial and HR business process outsourcing (BPO) provider Intercomp. The company intends to use the new funding for growth and expansion. Financial details of the transaction, which was structured through Elbrus Capital Fund II, were not disclosed. Read More
Hony, Suning to Take Controlling Stake in China-based PPTV for US$420 Million (Asia)
China-focused private equity firm Hony Capital and home appliance retailer Suning Commerce, one of Hony’s portfolio companies, will purchase a controlling interest in China-based online TV provider PPTV for US$420 million, valuing PPTV at approximately US$568 million. Suning will pay US$250 million to buy a 44 percent stake in PPTV, becoming the largest shareholder, while Hony will invest the remaining… Read More
KKR to Invest US$90 Million in Indian Hospital Operator (Asia)
Global investment firm Kohlberg Kravis Roberts & Co. (KKR) will invest about US$90 million in India-based hospital operator Apollo Hospitals Enterprise through a subscription to convertible debentures issued by Apollo Hospitals’ parent PCR Investments. Per the agreement, KKR will have an option to convert these debentures into equity shares after five years, and the Indian founders will have the right… Read More
Brazil-based Technology Startup ContaAzul Receives Series B Investment (Latin America)
Venture capital firms Monashees Capital, Ribbit Capital, 500 startups, Napkin Ventures and Valar Ventures have participated in a Series B funding round in Brazil-based technology startup ContaAzul. The company, which owns a management system aimed at small companies, previously raised a Series A round in January 2013. ContaAzul intends to use the capital injection to accelerate the company’s expansion and… Read More
Foursan Group Acquires a 37 Percent Stake in Jordan-Based ATICO (MENA)
Foursan Group, a private equity firm primarily focused on the Middle East region, has acquired a 37 percent stake in Jordan-based ATICO—Fakhreldin Group, a holding company operating in multi-service hospitality management. ATICO intends to use the capital injection to fund local and regional expansion and to grow and diversify the group’s revenue streams. Financial details of the transaction, which was… Read More